If you’re moving to Australia, leaving the country, or spending time abroad, knowing your tax residency status is crucial. It determines which income you must declare, what deductions you can claim, and your overall tax obligations with the Australian Taxation…
Dealing with the loss of a loved one is challenging enough without the added complexity of managing their financial and tax affairs. Thanks to a comprehensive step-by-step guide published by the Australian Taxation Office (ATO), navigating the key responsibilities after…
When you dispose of an asset—sell it, lose it, swap it, or end your ownership—it triggers a Capital Gains Tax (CGT) event. This is when a capital gain or loss is crystallised and potentially needs to be reported in your…
Running a small business is always a balancing act—managing cash flow, keeping customers happy, staying ahead of competitors, and complying with regulations. Add unexpected challenges such as shifting market conditions, rising costs, or technological disruption, and the pressure can feel…
Ensuring proper record-keeping isn't just good business — it’s a legal requirement enforced by the Australian Taxation Office (ATO). Failing to comply can trigger administrative penalties, audits, or even prosecution. Here’s what you need to know to stay on the…
If you're an Australian resident for tax purposes, you’re required to declare all your worldwide income in your tax return — not just what you earn in Australia. This includes money earned while working overseas, income from foreign investments, pensions,…
Owning a rental property can be a great way to build wealth, but it also comes with tax responsibilities. If you rent out a residential property — whether it’s a house, unit, or apartment — it’s important to understand your…
As tax time rolls around, it’s important to make sure you’re getting the right support. If you’re using someone to help prepare or lodge your tax return or to give you tax advice, ensure they’re registered with the Tax Practitioners…
With the rising cost of living and a growing trend toward flexibility, more Australians are exploring side hustles – from ridesharing and food delivery to selling handmade goods online or freelancing. But if you’ve recently picked up a side gig,…
We are proud to share some very special news – our founder, Roy McDonald, has been recognised for achieving 60 years of membership with CPA Australia. This is an exceptional milestone and a…